Betsey Johnson is selling a majority of her label to a private equity firm, which is sort of like the tent dress equivalent of this year's fashion financing world, but Portfolio blogger Lauren Goldstein Crowe is confused. What would a private equity firm want with Johnson, a "grandmother, 65 years old?" Um, and Valentino: such a strapping young lad himself! [Portfolio.com]

The Atlanta City Council is attempting to amend the city's current public indecency law to stop the (twenty year old) "epidemic" of baggy pants and the horrific collateral damage of exposed boxer shorts. Women would also be prevented from showing thongs, sports bras, or any bra straps. We really hope this is a joke intended to provide Katt Williams with material for some epic Freaknik routine, but just in case, the ACLU is already on it. [AJC]

If you have a Platinum Amex you can go to a New York Fashion Week show for $100 and watch the show from a sky box and, uh, eat some lunch, although shows last an average of 16 minutes, so you won't have time to eat much, which we guess is the point. [WSJ]

Designer Behnaz Sarafpour sent emailed invitations to her Spring/Summer 2008 show in lieu of paper ones to help the environment. [FWD]

Anna Wintour will not be attending Paris Fashion Week, because she's going to London Fashion Week instead. The world: shocked. [WWD, 1st item]

The latest celeb Steve & Barry's line: Venus Williams' EleVen. She says the name is rife with symbolism because the number shows how you can be more than your best? Um, whatever. What happened to her Reebok contract, anyway? [WWD, sub req'd]

Danskin, in honor of its 125th anniversary, will offer key pieces from its "collection" in cashmere and silk. So what do you call a cashmere unitard? Unitarded! [WWD, sub req'd]